UK jeweller Theo Fennell plans international growth

UK Jewellery retailer Theo Fennell today said it had appointed a new boss to head its drive to become a major international luxury brand.

The company said former Burberry executive Pamela Harper will lead a review of its business plan to accelerate its presence overseas.

The group, whose clients have included the Beckhams and Elton John, also said turnover for the six months to September 30 rose 21% to £12.8 million, which led to pre-tax profits for the period up 29% to £434,000 (€601,665).

Fennell said sales growth in the second half slowed compared to the first, but was still ahead of a record performance last year.

Chairman Richard Northcott, added: “Our unique, design-led jewellery sets the company apart and allows it to compete comfortably with other major international brands.”

He said Mrs Harper had spent nine years at Burberry and played a major role in both the turnaround and international development of the luxury brand group.

Mr Northcott added: “Pamela is one of the luxury goods industry’s most experienced operators and is the ideal person to lead Theo Fennell to the next stage of its growth and develop the group into a major, luxury brand.”

She said: “I am thrilled to be joining Theo Fennell at such an exciting time in its development and look forward to the challenge of developing Theo Fennell into one of the world’s major luxury brands.”

Analyst Andrew Wade, of Seymour Pierce, said the appointment of Mrs Harper was “a real coup for the business”.

He added: “Pamela has an impressive CV, having played a major role in the turnaround at Burberry and with experience as MD at Escada UK and Hermes.

“We believe this appointment could mark a step-change in the establishment of Theo Fennell as an international marque.”

Shares rose 12% to 81.5p today.

The company, which has recently established a presence in Bahrain and Kazakhstan, said jewellery pieces which had been on show at the Royal Academy of Arts, will be distributed through its overseas network.

It has also developed a Theo Fennell men’s fragrance which is due to be launched next year.

After finishing art school designer Theo Fennell started his business in London in 1982, where the company’s flagship store is today. It also has locations in Newcastle, Leeds and Manchester, alongside Harrods and Selfridges in London.